8229 Kingsbrook Rd #229 · Houston, TX 77024

$119,000

2 bd · 2.0 ba · 1,052 sqft · Condo public records · 124 Days on market

Built 1964 $113/sqft · 24% below area Est $157k · 24% under $764/mo HOA · 44% of rent

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• Appreciation +8.5/10.0
• Schools +4.1/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Cash flow +3.3/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Over 1,000 SF of living space in the beautiful community of Bayou Bend T/H Condos!! This charming one story Condo offers 2 bed/ 2 full baths. Located on the second floor, the unit features open floor plan with living room, dining, kitchen with plenty cabinets, storage, balcony, view to the pool, lush of landscaping in the property. All appliances will remain with the property. The monthly HOA includes; electricity, high speed internet, water, sewer, trash pick up, insurance of the building, ground, exterior of the building, maintenance of recreational facilities. Location!! Centrally located with easy access to I-10, 610, Beltway 8 and US 59. Near groceries stores, restaurants, Galleria Mall and entertainment. Zoned to Spring Branch School District. Hurry and make your appointment! It won't last long.

Key facts

• Open floor plan
• View to the pool
• Balcony

Tags

• OPEN FLOOR PLAN
• BALCONY
• VIEW TO THE POOL
• LUSH LANDSCAPING
• CENTRALLY LOCATED
• EASY ACCESS TO I-10

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-368 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $74k (38.2% below list).
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $74k (38.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, crime F.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 310 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent is only 15% of the median local income ($136k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $9k of equity ($823 loan paydown + $8k appreciation (6.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $119k implies a 495% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 44% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,579 (38.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
10. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
11. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
12. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 2.59%
• Cash-on-cash: -13.24%
• DSCR: 0.41
• GRM: 5.7

CMA / ARV

• ARV (median comp): $157,444
• List price: $119,000
• Delta: -24.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.92% appreciation · 4.96% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.65×
• Total profit: $21,661
• Equity at exit: $81,849

10-year hold

• IRR: 11.6%
• Equity multiple: 3.69×
• Total profit: $89,572
• Equity at exit: $154,921

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77024

• Home prices YoY: 2.8%
• Rents YoY: 5.0%
• Active inventory: 310
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$624
• Tax from tax record: −$307 /mo · $3,679/yr
• Insurance: −$50
• HOA: −$764
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-368

Break-even live

Break-even rent $2,208

Max offer price $73,579

Occupancy floor —

Sensitivity live

Price	-10% $-300	-5% $-334	+0% $-368	+5% $-401	+10% $-435
Rent	-10% $-505	-5% $-436	+0% $-368	+5% $-299	+10% $-230
Rate	-1.0pp $-308	-0.5pp $-337	base $-368	+0.5pp $-398	+1.0pp $-430

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8222 Kingsbrook Rd Unit 3187 Houston, TX	3.0	2.0	1207	$1,778	$1.47	3d	1	0.10mi
8222 Kingsbrook Rd Unit 8245 Houston, TX	2.0	2.0	1000	$1,634	$1.63	11d	1	0.10mi
8222 Kingsbrook Rd Unit 8255 Houston, TX	3.0	2.0	1207	$1,810	$1.50	11d	1	0.10mi
8222 Kingsbrook Rd Unit 8259 Houston, TX	2.0	2.0	1000	$1,500	$1.50	14d	1	0.10mi
8222 Kingsbrook Rd Unit 2187 Houston, TX	2.0	2.0	1000	$1,602	$1.60	3d	1	0.10mi
8222 Kingsbrook Rd Unit 8243 Houston, TX	1.0	1.0	701	$1,271	$1.81	14d	1	0.10mi
8222 Kingsbrook Rd Unit 8279 Houston, TX	2.0	2.0	1000	$1,500	$1.50	44d	1	0.10mi
8222 Kingsbrook Rd Apt 424 Houston, TX	2.0	2.0	1000	$1,610	$1.61	6d	1	0.10mi
8222 Kingsbrook Rd Unit 3047 Houston, TX	3.0	2.0	1207	$1,821	$1.51	11d	1	0.11mi
8222 Kingsbrook Rd Unit 2047 Houston, TX	2.0	2.0	1000	$1,594	$1.59	12d	1	0.11mi
8222 Kingsbrook Rd Houston, TX	1.0	1.0	701	$1,266	$1.81	14d	1	0.13mi
8222 Kingsbrook Rd Houston, TX	2.0	2.0	1000	$1,730	$1.73	44d	1	0.13mi
10220 Memorial Dr Unit 510 Houston, TX	3.0	2.0	1500	$3,007	$2.00	17d	1	0.14mi
10220 Memorial Dr Unit 10235 Houston, TX	1.0	1.0	900	$1,532	$1.70	17d	1	0.14mi
10220 Memorial Dr Unit 422 Houston, TX	2.0	2.0	1140	$1,882	$1.65	17d	1	0.14mi
10220 Memorial Dr Houston, TX	2.0	2.0	1500	$2,325	$1.55	25d	1	0.18mi
10220 Memorial Dr Houston, TX	1.0–3.0	1.0–2.0	1185	$2,362	$1.99	44d	19	0.18mi
10220 Memorial Dr Houston, TX	1.0–3.0	1.0–2.0	1185	$2,431	$2.05	3d	21	0.18mi
731 International Blvd Unit 100 Houston, TX	2.0	2.0	960	$1,325	$1.38	44d	1	0.50mi
722 International Blvd Houston, TX	1.0–3.0	1.0–3.5	1530	$1,998	$1.31	4d	31	0.52mi
802 Country Ln Houston, TX	1.0	1.0	752	$1,469	$1.95	3d	1	0.52mi
700 Kuhlman Rd Houston, TX	2.0	2.0	1500	$2,325	$1.55	12d	1	0.57mi
1000 Antoine Dr Houston, TX	1.0	1.0	725	$1,290	$1.78	12d	1	0.78mi
7777 Katy Fwy Houston, TX	1.0–2.0	1.0–2.0	1049	$1,928	$1.84	2d	49	0.93mi
915 Silber Rd Unit 972 Houston, TX	2.0	2.0	750	$1,139	$1.52	11d	1	1.07mi
915 Silber Rd Unit 2162 Houston, TX	2.0	2.0	750	$1,115	$1.49	5d	1	1.07mi
915 Silber Rd Unit 948 Houston, TX	3.0	2.0	1300	$1,664	$1.28	11d	1	1.07mi
915 Silber Rd Unit 2187 Houston, TX	2.0	2.0	750	$1,107	$1.48	3d	1	1.07mi
915 Silber Rd Unit 3187 Houston, TX	3.0	2.0	1300	$1,632	$1.26	3d	1	1.07mi
5700 Green Tree Rd Houston, TX	2.0	2.0	1168	$1,700	$1.46	44d	1	1.11mi
415 Silber Rd Houston, TX	1.0	1.0	720	$1,149	$1.60	25d	1	1.12mi
415 Silber Rd Houston, TX	2.0	1.0	750	$1,200	$1.60	44d	1	1.12mi
415 Silber Rd Houston, TX	2.0	1.0	750	$1,200	$1.60	25d	1	1.12mi
8370 Westview Dr Unit 425 Houston, TX	2.0	2.0	875	$1,332	$1.52	3d	1	1.13mi
8370 Westview Dr Unit 424 Houston, TX	2.0	2.0	875	$1,340	$1.53	6d	1	1.13mi
8370 Westview Dr Unit 8403 Houston, TX	3.0	2.0	1125	$1,514	$1.35	11d	1	1.13mi
8370 Westview Dr Unit 3112 Houston, TX	3.0	2.0	1125	$1,482	$1.32	3d	1	1.13mi
8370 Westview Dr Unit 8427 Houston, TX	2.0	2.0	875	$1,364	$1.56	11d	1	1.13mi
5800 Woodway Dr Houston, TX	1.0–2.0	1.0–2.0	1153	$1,772	$1.54	0d	13	1.20mi
1514 Wirt Rd Unit 4 Houston, TX	2.0	1.0	1060	$1,450	$1.37	13d	1	1.24mi

HOA detail condo

• Monthly dues: $764 · $9,168/yr
• Likely covers: watersewertrashelectricinternetlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $119,000 Active 124 DOM
2. 2026-06-17
   days on market $119,000 Active 123 DOM
3. 2026-06-16
   days on market $119,000 Active 122 DOM
4. 2026-06-15
   days on market $119,000 Active 121 DOM
5. 2026-06-13
   days on market $119,000 Active 119 DOM
6. 2026-06-09
   days on market $119,000 Active 115 DOM
7. 2026-06-08
   days on market $119,000 Active 114 DOM
8. 2026-06-07
   days on market $119,000 Active 113 DOM
9. 2026-06-04
   days on market $119,000 Active 110 DOM
10. 2026-06-03
    days on market $119,000 Active 109 DOM
11. 2026-06-02
    days on market $119,000 Active 108 DOM
12. 2026-06-01
    days on market $119,000 Active 107 DOM
13. 2026-05-31
    days on market $119,000 Active 106 DOM
14. 2026-02-14
    historical

    Show marketing remark (813 chars)

    Over 1,000 SF of living space in the beautiful community of Bayou Bend T/H Condos!! This charming one story Condo offers 2 bed/ 2 full baths. Located on the second floor, the unit features open floor plan with living room, dining, kitchen with plenty cabinets, storage, balcony, view to the pool, lush of landscaping in the property. All appliances will remain with the property. The monthly HOA includes; electricity, high speed internet, water, sewer, trash pick up, insurance of the building, ground, exterior of the building, maintenance of recreational facilities. Location!! Centrally located with easy access to I-10, 610, Beltway 8 and US 59. Near groceries stores, restaurants, Galleria Mall and entertainment. Zoned to Spring Branch School District. Hurry and make your appointment! It won't last long.

15. 2026-02-14
    listed $119,000 Active 813-char remark

    Show marketing remark (813 chars)

    Over 1,000 SF of living space in the beautiful community of Bayou Bend T/H Condos!! This charming one story Condo offers 2 bed/ 2 full baths. Located on the second floor, the unit features open floor plan with living room, dining, kitchen with plenty cabinets, storage, balcony, view to the pool, lush of landscaping in the property. All appliances will remain with the property. The monthly HOA includes; electricity, high speed internet, water, sewer, trash pick up, insurance of the building, ground, exterior of the building, maintenance of recreational facilities. Location!! Centrally located with easy access to I-10, 610, Beltway 8 and US 59. Near groceries stores, restaurants, Galleria Mall and entertainment. Zoned to Spring Branch School District. Hurry and make your appointment! It won't last long.

16. 2026-02-05
    price $119,000
17. 2025-11-01
    status Active
18. 2025-10-31
    historical
19. 2025-10-26
    listed $129,000 Active
20. 2025-10-26
    historical
21. 2025-10-12
    price $129,000
22. 2025-06-20
    listed $139,900 Active
23. 2025-06-20
    historical
24. 2025-05-17
    listed $139,900 Active
25. 2025-05-17
    historical
26. 2025-04-03
    listed $149,900 Active
27. 2025-04-03
    historical
28. 2025-03-17
    price $149,900
29. 2025-02-22
    listed $154,000 Active
30. 2025-02-22
    historical
31. 2025-01-08
    price $154,000
32. 2024-11-29
    listed $159,900 Active
33. 2024-11-29
    historical
34. 2024-11-08
    price $159,900
35. 2024-09-29
    listed $169,900 Active
36. 2024-09-29
    historical
37. 2024-08-29
    price $169,900
38. 2024-07-06
    listed $179,900 Active
39. 2024-07-06
    historical
40. 2024-07-01
    price $179,900
41. 2024-04-15
    listed $184,300 Active
42. 2013-12-13
    soldstatus
43. 2013-12-11
    soldstatus Sold
44. 2013-11-03
    status Pending, Continue to Show
45. 2013-10-03
    price $100,000
46. 2013-08-16
    price $105,000
47. 2013-06-05
    listed $110,000 Active
48. 2010-05-03
    soldstatus
49. 2002-04-17
    soldstatus
50. 2000-03-17
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,679 · $307/mo
• Projected year-2 tax: $3,679 · $307/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,911
• − Mortgage interest: −$6,666
• − Property taxes: −$3,679
• − Insurance: −$595
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − HOA: −$9,168
• − Depreciation: −$3,462
• Taxable loss: −$6,004
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $-2,970/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spring Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

Amenities A+ Commute A Cost of living A+ Crime F Employment C Housing A+ Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, TX
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 38,288
• Household income: $136,149
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1144.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 14% Hispanic / Latino 12% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 4% Chinese 4%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.92%
• Current HPI: 256.8342
• Rent YoY: ▲ 4.96%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+495.0% since first listed

38 events — show timeline

• 2026-02-14 Listed $119,000 HARMLS
• 2026-02-14 Listing Removed — HARMLS
• 2026-02-05 Price Changed $119,000 HARMLS
• 2025-11-01 Relisted — HARMLS
• 2025-10-31 Listing Removed — HARMLS
• 2025-10-26 Listing Removed — HARMLS
• 2025-10-26 Listed $129,000 HARMLS
• 2025-10-12 Price Changed $129,000 HARMLS
• 2025-06-20 Listing Removed — HARMLS
• 2025-06-20 Listed $139,900 HARMLS
• 2025-05-17 Listing Removed — HARMLS
• 2025-05-17 Listed $139,900 HARMLS
• 2025-04-03 Listing Removed — HARMLS
• 2025-04-03 Listed $149,900 HARMLS
• 2025-03-17 Price Changed $149,900 HARMLS
• 2025-02-22 Listing Removed — HARMLS
• 2025-02-22 Listed $154,000 HARMLS
• 2025-01-08 Price Changed $154,000 HARMLS
• 2024-11-29 Listing Removed — HARMLS
• 2024-11-29 Listed $159,900 HARMLS
• 2024-11-08 Price Changed $159,900 HARMLS
• 2024-09-29 Listing Removed — HARMLS
• 2024-09-29 Listed $169,900 HARMLS
• 2024-08-29 Price Changed $169,900 HARMLS
• 2024-07-06 Listing Removed — HARMLS
• 2024-07-06 Listed $179,900 HARMLS
• 2024-07-01 Price Changed $179,900 HARMLS
• 2024-04-15 Listed $184,300 HARMLS
• 2013-12-13 Sold (Public Records) — Public Records
• 2013-12-11 Sold (MLS) — HARMLS
• 2013-11-03 Pending — HARMLS
• 2013-10-03 Price Changed $100,000 HARMLS
• 2013-08-16 Price Changed $105,000 HARMLS
• 2013-06-05 Listed $110,000 HARMLS
• 2010-05-03 Sold (Public Records) — Public Records
• 2002-04-17 Sold (Public Records) — Public Records
• 2000-03-17 Sold (Public Records) — Public Records
• 1997-05-01 Sold (Public Records) $20,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,679 · +1.1% YoY. Source: county tax records.